Published: 27/06/2017 By JGIf you’ve struggled with finding a property that you know will work, you’re not alone. We’ve had many clients tell us they’ve faced similar challenges.
What to buy?
Where to buy?
What will give the best return?
Where can I be assured there is great demand from tenants?
What are the prospects for capital growth in this area?
These are some of the basic key questions that investors ask themselves every time they look for their next property.
If you haven’t defined your criteria and your goals yet, but you do want to buy a property – work this out first! Do not buy until you have defined this clearly!
If you’re just starting out, these questions could become a big headache, which in turn can become a big problem that becomes very difficult to solve without experience. Many people get stuck here and go no further with their investment dreams. There are many reasons not to buy, many unanswered questions, grey areas, and our greatest enemy – fear. Fear of the unknown and getting it wrong. It’s ok to feel this, in fact it’s perfectly normal! They key is to realise that fear is basic human nature (which comes from the fight or flight mechanism), and to move on and try to overcome it.
But just jumping in to get the experience could be very costly, especially once you weigh up your deposit and buying costs. What if it doesn’t work and you need to sell? Can you be assured you’ll get your money back and cover your costs? You don’t want to learn the hard way here, that would be very expensive, stressful, and time consuming!
So what is the solution?
The best thing you can do, is to seek out good information, relevant knowledge, and quality advice from others that have been there and done it, and are still doing it. And are still doing it well!
Build your team of advisors who can help you when questions arise. Some call this a ‘Power Team’ and in property investing that could include an Estate Agent, Letting Agent, Sourcing Agent, Mortgage Broker, Solicitor, Planning Consultant, and Architect. ‘Your net worth is down to your network’, goes the adage.
The team here at Dwell Leeds have 30 years experience working day-to-day in the Leeds property market. This includes letting, property management, sales, and sourcing for investors and landlords, like yourself. We advise first-time landlords through to seasoned investors across many strategies including buy-to-let, single lets, family let, HMO and multi let, and serviced accommodation. Not only that we’re experienced investors ourselves too, so we understand first hand the challenges that you face as a property investor.
Beware of taking advice from someone without plenty of direct experience - this isn’t advice! And be sure, remember that when you’re down the pub and you hear that bloke that talks like he knows everything there is to know about everything!! You know the type...
If you want to invest in property and need help working out your goals, or advice on what works in the Leeds property market right now – go no further.
Contact us today for your free and no obligation Investment Consultation so that we can show you we can help you best.